The global conductive textiles market was valued at USD 1.02 Billion in 2016 and is projected to reach USD 2.11 Billion by 2021, at a CAGR of 15.6% from 2016 to 2021. Based on type, the woven textile segment is projected to grow at the highest CAGR from 2016 to 2021. Woven textiles are widely utilized by various end-use industries such as military & defense, healthcare, and sports & fitness. As these textiles offer high standard performance in shielding and conductivity, they are considered to be the preferred type of conductive textiles utilized across the globe, thereby boosting the growth of the woven textile segment.
Growing awareness about the advantages of conductive textiles, high demand from the military & defense sector, and growing smart fabrics market are key factors anticipated to drive the growth of the conductive textiles market in the near future. Parker Chomerics (U.S.), Toray Industries, Inc. (Korea), Laird PLC (U.K.), Seiren Co., Ltd. (Japan), Bekaert (Belgium), HITEK Electronic Materials Ltd. (U.S.), and AiQ Smart Clothing (Taiwan) are some of the leading players in this market.
The conductive textiles market in the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. China, India, Japan, and South Korea are key countries contributing to the high demand for conductive textiles in the Asia-Pacific region. Increasing awareness regarding the benefits and functionalities of conductive textiles has boosted the growth of the market in this region.
